The First Look: Your 10-Second Guide To What Happened Overnight

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ASIA: Japan surged, Asia down. Guess. The yen. It has weakened, and is now approaching 82 per U.S. dollar, at 81.65. China shares were likely weaker due to concerns the central bank could hike interest rates after we get Chinese inflation data out on Thursday, according to the Wall Street Journal.

Chinese property prices across 70 major cities rose 8.6% year over year in October, representing a continued slow-down for price appreciation.

In Singapore, the world’s largest palm oil trader Wilmar dropped over 5% after reporting earnings which just weren’t good enough to satisfy markets after the firm’s huge run this year.

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EUROPE: Falling. Portugal has a key bond auction today. Ireland’s 10-year bond yield is above 8% and rising.

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MACRO: The dollar and euro are rising. Gold is fighting to hold onto $1,400. World Bank President Robert Zoellick has clarified his position on gold, after markets got excited that he suggested a return to the gold standard in an FT op-ed. So no, he doesn’t think we should return to a gold standard.

It should be noted that despite all the weak dollar consternation from the punditry, the dollar has had a nice bounce since November 4th. The dollar index is higher than it was a year ago.

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U.S. FUTURES: Are rising slightly. Watch for international trade data at 8:30 AM ET, and jobless claims at 8:30 AM.

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